Longfellow Investment Management Co. LLC Makes New Investment in L3Harris Technologies Inc $LHX

Longfellow Investment Management Co. LLC purchased a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,255 shares of the company's stock, valued at approximately $1,236,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after acquiring an additional 190,955 shares during the last quarter. Capital World Investors raised its position in shares of L3Harris Technologies by 2.9% in the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after acquiring an additional 329,910 shares in the last quarter. State Street Corp lifted its stake in shares of L3Harris Technologies by 1.6% in the 4th quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after purchasing an additional 141,442 shares during the period. Geode Capital Management LLC boosted its position in shares of L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after purchasing an additional 106,430 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock valued at $974,072,000 after purchasing an additional 124,797 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LHX shares. BNP Paribas Exane lowered their target price on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein lowered their price objective on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a research note on Monday, May 4th. Susquehanna dropped their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. Finally, UBS Group cut their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $365.00.

L3Harris Technologies Trading Down 0.1%

Shares of L3Harris Technologies stock opened at $291.62 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies Inc has a 52 week low of $262.68 and a 52 week high of $379.23. The stock has a 50 day moving average price of $292.85 and a two-hundred day moving average price of $323.26. The stock has a market capitalization of $54.30 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company had revenue of $5.88 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the firm earned $2.78 earnings per share. L3Harris Technologies's revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.7%. L3Harris Technologies's dividend payout ratio is presently 50.51%.

L3Harris Technologies Profile

L3Harris Technologies NYSE: LHX is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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